October 16, 1997
IRS Ruling May Spur Rise in Type of Planned Gift
The Internal Revenue Service has issued a ruling that fund raisers say could make a little-used type of planned gift -- a deferred gift annuity -- more attractive to donors.
Gift annuities are set up by contributors who turn over cash or appreciated assets to charities with the understanding that the donors will receive annual payments from the principal during their lifetimes. Once the payments end, the charity keeps all that remains of the original
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